Namecoin (NMC) is a token of the domain name registration service. Like registering a .com or .io domain name, you register a domain.bit in the network.

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Namecoin

Namecoin awarded 50k EUR from NLnet Foundation and European Commission for Namecoin Core and Electrum-NMC development.  https://t.co/ySQ9emkv8J  -Jeremy

Namecoin awarded 50k EUR from NLnet Foundation and European Commission for Namecoin Core and Electrum-NMC development. -Jeremy.